Deduction under sec. 54
This query is : Resolved
09 August 2013
sir,
my question is that i want to sell a residential house which is in the name of me. on which i will have LTCG and thereafter i want to purchase a new residential house in the joint name with my mother. can i claim a deduction under sec. 54 and how much?
my question is that i want to sell a residential house which is in the name of me. on which i will have LTCG and thereafter i want to purchase a new residential house in the joint name with my mother. can i claim a deduction under sec. 54 and how much?
09 August 2013
Yes you will be eligible for deduction since you are one of the co-owners.
09 August 2013
but partly or wholly
09 August 2013
You are eligible for deduction of the whole amount invested in the new property.
09 August 2013
thanks sir
09 August 2013
You are welcome. You should use the thanks button to convey your thanks.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
